Should the banks be nationalized?

Posted on February 4, 2009. Filed under: Money, Politics | Tags: , , |

My good friend Mark and I were talking last week about a very controversial issue that not a lot of people aren’t really talking about, and haven’t really thought of. The banks have done a terrible job managing money. We bail them out (again) and then they give 14 billion in bonuses to top executives. Great plan, right? So here is a concept that I think is crazy. Only some people are held accountable. For example, last week in atlanta, a man steels some bubble gum from a store. He is caught on video tape, then goes to jail, over 35 cents! Yet we have no idea what the banks are doing, where there are no doubt some crooked things being done. Why can’t the banks be held accountable? What if the government took control for a while? They could put a limits on profits, control risk and spending, and monitor the big bonuses. I am a republican, and all about smaller government and deregulation, but what if we can’t handle the freedom? When I was teenager, I overstepped my boundaries and broke the rules. As a result, I was grounded and temporarily lost my freedom until I showed my parents that I could be trusted again. Do you think our freedoms should be taken away if we violate them, at least until we can show we can be trusted again? What if we applied this to the banks, and all the other political screw ups going on right now? What do you think?

Comment.

-Josh

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